For a bit of info on loss if licence. I have cover till age 55, which costs just under 26000HKD per year. Also the medical cover companies in HK provide requires the employee to top up, otherwise the cover is minimal. The top up I pay is 14000HKD per year. So as you can see, these two total 40K per year, so not an insignificant amount. If you come to HK with a family, then insurance with top up is a necessity. The company provided insurance plan with not cover very much and it can be very costly if you dont have sufficient cover.
As for any other insurance provided by a company, be aware that companies do not like parting with their money and it can take years to actually receive a payment. Some one has mentioned here a payout of 80,000usd, that wont cover much at all, perhaps write down what that money could buy versus what will be needed, you might be surprised at how much more you will need.